IN 2011, The appellant was charged in the Royal Court with money-laundering offences. The appellant was a Guernsey businessman with experience in the insurance industry. He was the director of a number of Guernsey companies The factual background The appellant is 61 years of age. He came to Guernsey in 1984. He is a businessman […]

Jersey’s first Financial Services Ombudsman will begin investigating and resolving complaints on November 16 2015. Once the ombudsman scheme is in operation, the ombudsman will adjudicate complaints from individual customers in relation to financial services provided in Jersey and will be able to make awards to return complainants to the position that they would have […]

AN INDEPENDENT external assessment of Guernsey’s systems for preventing financial crime is set to be discussed in Strasbourg today at the plenary meeting of MoneyVal. MoneyVal is a body of the Council of Europe tasked with assessing the effectiveness of measures in place to prevent money laundering and the financing of terrorism. Guernsey is one […]

TWO men who conned the States of Guernsey out of millions of pounds and laundered it in Abu Dhabi and Istanbul have been jailed for their roles in the operation. The ‘Lagan fraud’ saw Guernsey’s Treasury and Resources Department lose £2.6 million, which was transferred through bank accounts across the world. Adrian Taylor (44), who […]

The Guernsey Financial Services Commission (GFSC) licensed 45 new international insurers during the first six months of this year. This comprised six limited companies, two Protected Cell Companies (PCCs), 30 PCC cells, one Incorporated Cell Company (ICC), two ICC cells and four life policy cells. The figures mean that there were a total of 816 […]

The 16th November 2015 has been announced as the opening date of the Channel Islands Financial Ombudsman’s (“CIFO”) office, subject to States’ (parliamentary) approval. Information for the general public and potential complainants is now available on www.ci-fo.org The site has specific information concerning the ability of people with unresolved complaints to give CIFO advance notice […]

Changes in Guernsey’s company law have now been approved with most of the changes expected to come into force early September 2015. The changes are largely being introduced in response to industry feedback, to bring Guernsey’s company law up to date and to surpass, where possible, other key financial centres – an exercise which is […]

Revenue & Customs has so far collected just £13.9m from an initiative to prise open secret bank accounts in the Crown Dependencies which was originally expected to end up raising £1bn. Just over 400 people have so far come forward to own up to previously undeclared accounts in the Isle of Man, Jersey and Guernsey, […]